Coal news and updates

Coal India February coal production up 4% y-o-y

Coal India Ltd (CIL) reported a 4.16% year-on-year (y-o-y) growth in coal production to 51.01 million tons (mt) in February 2016 compared to 47.98 mt seen in February 2015, as per an official release from the company.

However, the production of CIL decreased 3.50% on a month-on-month basis from 52.86 mt seen in the previous month of January.

CIL also failed to achieve its February 2016 coal production target as it ended up producing 51.01 mt against the target of 52.01 mt. The production level was 98% of the target.

The state-run coal miner accounts for 80% of the total coal production in India and the company has set a target of producing 550 mt coal in 2015-16 and increase it further to 1,000 mt by 2019-20.

The company’s production growth rate in January was 13.16% y-o-y.

Total production during the first 11 months from April to February of 2015-16 stood at 477.31 mt, nearly 3% lower than the target of 491.27 mt set for the period, but 9.23% higher compared to 436.96 mt produced during the corresponding period of 2014-15.

The following chart provides CIL’s monthly coal production in FY16 and FY15 (in million tons):

#Updated figure may not tally due to revision